Management Accounting Report Essay Example for Free

Management Accounting Report Essay In decision making process ambiguity, variability and uncertainty are often faced. For this reason Risk Analysis is always part of any decision making process. Even if the access to information is unprecedented even then future can’t be predicted accurately. For this reason Monte Carlo simulation is used which provides all the possible outcomes of decisions, access the impacts of risks and allow better decision making under uncertain situations. Monte Carlo Simulation: It is a computerized mathematical technique based on broad class of computer algorithms which allow people and organisations to calculate risks and hence helps in better decision making. Monte Carlo Simulation can also be termed as a problem solving technique to calculate probability of outcomes by using random variables and multiple trials which are termed as simulations (Berg, 2004). Monte Carlo Simulation is used by professionals in engineering, medicine, physics, chemists, project management, manufacturing, research and development, environmental specialists, oil and gas and several business functions. This is a reflective report in which case study of Fennel Design Project of Laura Watson company is used to predict the demand of greeting cards. The aim of the report is to speculate the situation of the Fennel Design project and also to provide a base for the companies experiencing these situations. This report uses discrete data of continuous range In this report discrete data of continuous range is used. Example of discrete data is when a coin flips in air, it have two possibilities either head or tail. Whereas, a running engine might have many temperature changes at different time intervals which is an example of continuous data. Laura Watson is a new company and so can also face these uncertainties as they don’t have any idea of when to produce, when to produce, supply and demand analysis and the situation which drives these factors. For this reason Monte Carlo Simulation is used to calculate predicted demand, risk analysis in order to provide company with useful information which then can be utilized to make timely decision making. This report is divided into three main parts. In Monte Carlo Simulation we can take as many amounts of trials to get an accurate answer. But, in the given casestudy, business manager’s Alex and Laura took one thousand trials. Number of trials increases the profit probabilities and helps in getting close results and reduces the chances of risks. In this question we have to calculate the price of the cards and for this we used Descriptive Analysis Function in Microsoft Excel. This Function automatically calculates all statistical data like mean, median, mode and standard deviation. Whereas, in task two WHAT IF analysis helps us in getting the results within the given number of trials. It creates thee situations or results which are base case scenario, best case scenario and worst case scenario. When the values of these situations are changed answer automatically changes. It is very helpful for managers in decision making. In task three risk simulation function and random functions are used which makes a balance between mean and standard deviation given in the projected demand. Rand command is used to calculate the cost of parts, random discreet method is used to. Variance Reduction is used to minimize non accurate profits. These all function enables to calculate price and predict risk. In this report every function is calculated independently to make the process easy to understand and clear. By using Monte Carlo Simulation we have calculated all the possible parameters required in the case study and also predicted the risk. It helps the managers to make quick and accurate decisions. Bibliography Berg, A. B. (2004). Markov Chain Monte Carlo Simulation and their Statistical Analysis. New Jersey: World Scientific.

The Pc Industry Essay -- essays research papers

Introduction   Ã‚  Ã‚  Ã‚  Ã‚  In this paper I will discuss the industry structure and the behavior of firms in the Personal Computer Industry. The personal computer industry has five leaders: Compaq Computer Corporation (CCC), Dell Computer Corporation, International Business Machines (IBM), Hewlett-Packard, and Gateway, (Industry Survey, Apr. 2000). The PC industry, as discussed in the paper, is comprised only of home/business use machines, not mainframes, databases, or any kind of servers or super-computers. The PC industry is a fast-growing, consumer-based oligopoly. I will prove the latter through the use of industry characteristics and firm behaviors by giving an overview of each leading firm and their behaviors', then by combining them into an industry analysis. The companies will be addressed from top leader to bottom. Company Overviews   Ã‚  Ã‚  Ã‚  Ã‚  Compaq Computer Corporation,(CCC) is the current industry leader. CCC boasts a 1999 market share of 12.8%. However, this figure has declined slightly from its 1998 share of 13.4%. The dip is due to Dell Computer Corp.'s heavy presence in the small PC market, (Industry Survey, Apr. 2000). Compaq has a wide range of PC products from smaller, less expensive machines to more costly, high-tech systems. CCC has been most successful with their smaller machines, targeted to the home/family segment, because they are able to sell large quantities. However, Compaq has been unsuccessful in retaining customers because most of them were pleased with their smaller machines and did not upgrade to CCC's more expensive, high-tech systems,(Hamblen 1-2). Customer retention has been a problem for the forty billion-dollar company, (Hamblen 1-2). It is my assessment that Compaq does still remain the leader because their products are very easy to buy for the uneducated consumer. You may simply walk into the WIZ or BEST BUY and there are five or so Compaq machines all competitively priced with a good range of attributes, usually not the best that a veteran user would require. For instance CCC's newest product, the iPac, is a very simple-to-use, inexpensive machine. It is supposed to satisfy business workers' needs for a useful computer at low cost,(Wildstrom 1-2). Another problem in CCC's not-to-distant future is their distribution costs. With the use of the Internet, competitors have been able to ... ...pr. 2000). This will lower costs and possibly increase the bottom line for the computer giant.   Ã‚  Ã‚  Ã‚  Ã‚  Like IBM, Hewlett-Packard made one mistake and cost itself billions of dollars in revenues. HP is a large electronics conglomerate. HP manufactures everything from calculators to top-secret government appliances. For HP the PC market is one of many. Originally Hewlett-Packard was the standard in computer electronics; however, this is not reality today. HP's reputation declined through the `80s and early `90s because of poor quality management. To regain the respect they had lost the marketing and engineering departments at HP worked their fingers to the bone to create a new image for the company. This was very effective; today HP owns a modest 6.2% of the PC market and a very healthy reputation for quality PC's and peripherals, (Industry Survey, Apr. 2000). HP has had some growth in the past few years but has failed to match the industry growth rates. The company's years of poor quality put a considerable hurt on their future growth; while HP was busy filling in t he hole it dug for itself, industry leaders like Compaq and Dell were basking in their success.

La Llorona, an Oral Tradition

The legend of La Llorona Lechner, J. V. (2004). Allyn & Bacon anthology of traditional literature. Boston: Pearson A and B. Lyons, G. (1972). Tales the people tell in Mexico. New York: J. Messner. The legend of La Llorona (The weeping woman) is a well known Hispanic tale in the Southwestern part of the United States, Mexico, Central and South America and also Puerto Rico. Many versions of the story exist allowing them to fit the community where the story is being told. The story is about a beautiful woman named Maria from a town near the present day city of Monterrey, NL.Mexico. She falls in love with a handsome revolutionary Sergeant that was passing by during the Independence War of Mexico from Spain that occurred in the 1800s. They marry each other and have three children, due to the traveling of the revolution her husband is always absent. One day he comes back with another women to visit his children and pays no attention to Maria the whole visit. In furry of the event she takes her children to a nearby river and drowns them; blaming her children for her husband leaving.She then comes to realization of the horrible mistake she has done and the water takes her kids out of her hands. She begins to yell â€Å"Ay, mis hijos! † meaning â€Å"Oh, my children! † and decides to kill herself. It's been told that her grief was so great that it was carried with her after death and since then she has been looking for her children in areas where water is near. It is said that every foggy night around eleven she will wonder the area and pick up kids who are walking or outside near water. The legend is used to scare children away from water areas at night and staying out to late.One of the characteristics that we find in the genre of legends and the story of La Llorona is that they are told and received as truths and are set in a historical point of view. Lechner says in her book that people tell legends because they often endure because they convey somethi ng important about the community's values, perception of who they are, or concerns for their safety and well-being. It is very clear that safety is a concern when keeping the story alive of La Llorona to the children. I decided to chose The legend of La Llorona after reading the fifth chapter f the book Allyn & Vacon anthology on traditional literature because after finishing the story it reminded me of my childhood growing up in Mexico. To refresh my memory I also read Tales the people tell in Mexico, called my parents, and called my brother asking for their version of the story. Even though it is a tragic and sad story to be told I believe is a great story to keep alive telling and retelling not just among my own culture but to share it with other people whom may not be familiar with the story.I think it might even be a great ghost story to be told in the middle of a woods at a bong fire and if a river or creek is nearby you might even get to hear her torturing weeping noise of â €Å"Ay mis hijos†. I also had a firsthand experience with La Llorona while growing up. In a dark foggy night I decided to follow my older brother Francisco and his friends into a nearby woodlands. I had heard that they had built a secret wooden house and created a swing that was used to jump off into a small river which was the motivation of my secret following. After a couple of minutes of following from the distance I had lost them due to excess fog.I found myself alone in the middle of the woods when I started to hear some weeping sounds. At first those sounds were unclear and I couldn't distinguish them but as the seconds went by it sounded louder and louder until I clearly heard â€Å"Ay mis hijos! Ay mis hijos! † meaning â€Å"Oh, my children! † I then noticed a body of a women wearing a white dress floating on top of the low fog coming in my direction, I could say that is where I developed my talent as a runner because I made it back to my house in a flas h. After that I never wondered the woods alone at nights and respected the legend of La Llorona.

Love and Feelings - French Canadian Vocabulary

Michel is French and Canadian. He lives in the gorgeous island of Belle-Isle in Brittany where he offers French immersion. He also taught at McGill in Montreal where he also spends a few months each year. Today, Michel is going to teach us typical Canadian French expressions to talk about love and feelings.   1 - Tomber en amour - to fall in love, Also Être en amour - to be in love. This structure is probably influenced by English syntax; in love. In France, wed say: tomber amoureux, à ªtre amoureux. A phrase which is very  «Ã‚  quà ©bà ©coise  Ã‚ »Ã‚  : Ils sont en amour par-dessus la tà ªte - theyre in love over their head. In France, one would rather say  : ils sont amoureux fous - they are crazy in love. 2 - Mon chum, ma blonde - Mon chum (my boy-friend) - Ma blonde (my girl-friend). This was once an expression used in France, such as a 18th century still famous song indicates it : Auprà ¨s de ma blonde, qu’il fait bon dormir Nowadays, a song by a very famous Quà ©bec singer, Diane Dufresne, would give you a good idea of the actual pronunciation of the word  «Ã‚  chum  Ã‚ » in quà ©bà ©cois:  «Ã‚  J’ai besoin j’ai besoin d’un chum J’ai besoin j’ai besoin d’un homme  Ã‚ » 3 - Cest un mà ©chant pà ©tard ! About some sexy girl (or some sexy boy), you will hear  : c’est un mà ©chant pà ©tard!  (he/she is a nasty firecracker!) 4 - Tes beau comme un ptit coeur! To your lover, you can say : â€Å"t’es beau/belle comme un p’tit coeur! (you are beautiful like a little heart) 5 - Donne-moi un bec Un bec (say the final c) in quà ©bà ©cois means a kiss (French people would say donne-moi un baiser, or un bisou. Un bec in France means a beak, like a birds beak) Another Anglicism used in quà ©bà ©cois : un French kiss. This is an expression which is not used in France at all! Quà ©bà ©cois have even built up a verb : â€Å"frencher quelqu’un†.  In France, wed say rouler un patin à   quelquun - its quite slang though. Now, lets practice your French kissing vocabulary in this realistic and fun learn French in context story - you will also learn how to avoid a HUGE faux-pas! For more articles about French in Quà ©bec and France, daily mini lessons and tips, I invite you to follow me on Facebook, Twitter and Pinterest. If you enjoyed this article, you may also like:- Dialogue in French Canadian ≠  Franà §ais de France English translation - My favorite French Canadian Expressions - 7 Best French Canadian Idioms You may also like: French Love VocabularyDialogue About Kissing - Easy Bilingual StoryHow To Say I love You in FrenchFrench Valentines Day Traditions and Vocabulary - Easy Bilingual Story